There are a number of benefits of owning four wheeler insurance. Firstly, it helps you meet the legal requirement of owning at least a third party car insurance cover. Moreover, a car insurance policy helps you meet
financial liabilities that may arise towards a third party or own-damages to your car due to a road accident or any other unfortunate event.

It is mandatory to own at least a third party car insurance policy while driving a car. If you get caught driving without it for the
first time, you may be charged with a fine of Rs. 2,000 with or without imprisonment of a maximum of 3 months that can increase to a fine of Rs. 4,000 and/or jail of up to 3 months, when caught for the second time.

The premium rates for third-party car insurance price depend on the engine capacity of the car and is fixed by the IRDAI. However, the premium for standalone own-damage and
comprehensive car insurance policies varies from car to car depending on a number of factors such as car's MMV (Make, Model and Variant), RTO
location, engine capacity, registration city, fuel type,

Every car insurance comes with a validity period, post which you need to renew it to continue to enjoy its benefits. However, even if you miss to get your car insurance plan renewed by the expiry date, you can still
get it renewed till the next 90 days from the date of expiry. After the expiry of this 90-day period, car insurance cannot be renewed. In such a case, you need to purchase a new car insurance policy.

Car insurance policy number is a unique 8 to 10 digit number, given by your car insurance company for the identification of your insurance account. It is generally written on your insurance card or statements issued
by the insurance company. The number remains the same as long as your policy is active with the respective insurance provider.

There are a number of factors which make a car insurance company better than its peers. One such important factor is Claim Settlement Ratio (CSR).
It is the percentage of claims settled by a car insurance company out of the total number of claims received by it during a financial year. Based on this SBI Car Insurance tops the list with a claim settlement ratio
of 100%, followed by Royal Sundaram Car Insurance (98.60%) and Bajaj Allianz Car Insurance (98.50%).

Yes, the four wheeler insurance can be transferred from the old owner to the new owner in case the sale of a second-hand car. As per the Indian Motor Tariff, the policy transfer should be completed within 14 days
from the car’s purchase date.

No, one car owner can not have two insurance policies for the same four-wheeler. However, a third-party insurance plan and own damage cover can be purchased separately for a four-wheeler, in place of a comprehensive
four wheeler insurance.

Depreciation in car insurance refers to the loss of the insured car’s value with time due to wear and tear. The depreciation rate plays a vital part in a car insurance policy as insurance companies consider, based on
the car’s age, to determine the value they agree to provide for your car.

The Indian Motor Tariff gives a period of 14 days from the date of the car’s sale to get the car insurance plan transferred from the previous car owner’s name to your name. If you fail to get your car insurance plan
transferred within 14 days, your car will have no valid insurance protection.

While applying for a car insurance policy, the insurance company can ask you to disclose various relevant information requested on the car insurance application. Many insurers consider your credit history, age,
criminal record, and other aspects for accepting or rejecting your application.

When it comes to car insurance, a cover note is a temporary certificate of insurance issued by the insurance company before the issuance of a policy after the insured person has submitted a duly filled in proposal
form and has made the complete payment of premium.